PA Resources said it will sell off all of its oil and gas assets as the company’s chief financial officer also revealed he will be leaving the firm. The Swedish Independent said a review of the company’s strategic options had been up for review since April this year. PA Resources said it had found no viable alternatives with regard to long-term financing or mergers and acquisitions.
Schlumberger is set to acquire Fluid Inclusion Technologies (FIT) in another acquisition deal for the company. The US-based oil and gas service specialises in laboratory analysis of trapped fluids in rock material and advanced borehole gas analysis on drilling wells.
Antrim Energy has received $9.7million in costs owed by joint venture partners following the completion of the Fyne and Erne abandonment programme in the North Sea.
Russia's largest oil driller Eurasia Drilling has formally delisted following a buyout by company's shareholders.
Terrorist groups are cashing in on $1million in crude sales every day, according to the new Global Terrorism Index.
Tullow Oil's wildcat in Kenya failed to return any hydrocarbons.
BP Plc will need to revise its plan to explore for oil in an untapped frontier off the coast of southern Australia before regulators will approve its drilling program estimated to cost more than A$1 billion ($710 million).
Hedge funds have turned more pessimistic on oil as prices flirted with $40 a barrel for the first time since August.
Aberdeen couple Fred and Donna Nicol have sold another business just weeks after announcing the sale of Bridge-of-Don-based First Hose in a deal potentially worth £6million.
Oil major Shell’s Turritella FPSO (floating production storage and offloading unit) has set sail from Singapore bound for the Gulf of Mexico. It will head to the Stones Project, 200miles southwest of New Orleans, in the Walker Ridge area. The vessel set sail from Singapore earlier this month and will connect to subsea infrastructure in water depths of 9500ft.
SBM Offshore has been invited by Petrobras to tender for the provision of two FPSOs.
A Colorado city came under fire after posting a map listing the addresses of fracking opponents labelled under the tag "address of interest".
Caspian Energy said it had produced positive results on two of its existing wells in Kazakhstan. The company’s subsidiary, Aral Petroleum, has just completed a period of test production at the East Zhagabulak field in Aktobe Oblast. After 10 months of inactivity, operating staff performed basic geological and mechanical tests which involved re-opening the wells and testing oil pressure.
Satellite service provider Marlink will provide BP Shipping with global multi-band high speed services to support operational efficiency and crew communication across its tanker fleet.
Iona Energy, the North Sea-focused oil & gas company, has had amendments to proposed restructuring plan approved at a meeting by bondholders today.
Police investigating historic bribery and corruption claims at the heart of Petrobras's contracting culture are set to question more than a dozen new people.
The moon was a waning crescent sliver Sept. 9 when a man emerged from an oil tanker, sidled up to a well outside Cotulla, Texas, and siphoned off almost 200 barrels. Then, he drove two hours to a town where he sold his load on the black market for $10 a barrel, about a quarter of what West Texas Intermediate currently fetches.
InfraStrata has confirmed a company structure shake-up as it divests the majority its exploration-based assets in a bid to refocus on its gas storage project in Northern Ireland.
ExxonMobil's comms chief is set to step down after 38 years with the firm.
Andes has struck a deal with Cancel Energy to develop licences held by Interoil Exploration and Production in Colombia.
Eland Oil & Gas' successful workover has boosted production in its West African assets.
Rose Petroleum's chairman has stepped down after six years of service.
Zenith Energy has been awarded a seven-figure contract to provide complete well management services for a UK land well.
Ithaca Energy has chipped away at its record high debt while posting strong third quarter results.
The Kurdistan Regional Government of Iraq (KRG) has formally approved HKN Energy's Sarsang development plan, which is scheduled to increase production to 50,000 barrels of oil per day.